BofA raised the firm’s price target on Biohaven (BHVN) to $15 from $10 and keeps a Neutral rating on the shares. In conjunction with three pipeline updates Biohaven reported yesterday, the firm says its increased target now reflects de-risking of kv7 for epilepsy and added value for the degrader platform. However, it reiterates a Neutral rating based on the view that Biohaven’s “low visibility/high risk” 2026 catalysts may keep shares range bound.
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Read More on BHVN:
- Biohaven highlights degrader platforms in new investor presentation
- Biohaven reports ‘positive’ early experience from Priority Degrader Programs
- Biohaven Announces $125 Million Targeted Equity Financing
- Biohaven: MDD Setback but Epilepsy Refocus and Diversified Pipeline Support Continued Buy Rating
- Biohaven: Core Pipeline Strength and Upcoming Clinical Catalysts Support Buy/High Risk Rating Despite BHV-7000 MDD Setback